Arizona § 33-748 Seller's right to foreclose

Arizona Statutes

§ 33-748 — Seller's right to foreclose

Arizona § 33-748

Title 33Arizona Revised Statutes

Ch. 6MORTGAGES

Art. 3Forfeiture and Reinstatement of Purchaser's Interest Under Contract for Conveyance of Real Property

This text of Arizona § 33-748 (Seller's right to foreclose) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 33-748 (2026).

Text

A.If a contract provides that the seller may elect to accelerate the unpaid principal balance due to seller on the purchaser's failure to pay the monies due under the contract, the seller may only enforce the acceleration by foreclosing the contract in the manner provided by law for foreclosure of mortgages upon real property. If a purchaser is in default under the contract for reasons other than failing to pay amounts due under the contract, the seller may only foreclose the contract as a mortgage in the manner provided by law for foreclosure of mortgages upon real property.

B.If an action to foreclose a contract has been filed, a forfeiture, by judicial process as provided by section 33-744 or by notice as provided by section 33-745, shall not thereafter be completed unless the forecl

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A. If a contract provides that the seller may elect to accelerate the unpaid principal balance due to seller on the purchaser's failure to pay the monies due under the contract, the seller may only enforce the acceleration by foreclosing the contract in the manner provided by law for foreclosure of mortgages upon real property. If a purchaser is in default under the contract for reasons other than failing to pay amounts due under the contract, the seller may only foreclose the contract as a mortgage in the manner provided by law for foreclosure of mortgages upon real property.

B. If an action to foreclose a contract has been filed, a forfeiture, by judicial process as provided by section 33-744 or by notice as provided by section 33-745, shall not thereafter be completed unless the foreclosure action is first dismissed and a notice of election to forfeit is served in the manner and on the persons provided for in section 33-743.